A year has passed since Broadway Property Co., LLC announced that the 1981 Veterans Memorial State Office on Broadway between Pacific and Cedar Avenues was set to become a mixed-use development, after the space was purchased for $14M in 2010.
Today, developers and elected officials announced that the $53M Parc Broadway is underway, as the razing of the current structure at 245 W Broadway will begin this week.
«You’ve heard these development stories so many times: ‘It’s gonna be this good looking and this great’—and sometimes, it doesn’t happen,» said Mayor Robert Garcia. «This team has just been relentless [in making it happen]… There’s a possibility of 450 new residents living in this part of Long Beach, shopping in this area, and contributing to the West gate.»
The multi-use development, which developers hope will revitalize the deadened strip, was designed by Studio One Eleven and will be host to 222 living units (instead of the originally-proposed 219), including 142 one-bedrooms, 40 two-bedrooms, 26 studios, and 10 lofts. The fourth floor will provide residents with a pool, outdoor fireplace, and cabanas with a south-facing view of the waterfront, along with a private dog grooming facility.
The project is expected to be completed sometime between late 2016 and early 2017.
